In Focus

Cybercrime: Risks for the Economy and Enterprises

Lucca, Italy on 29 November 2013

UNICRI’s roundtable, entitled “Cybercrime: Risks for the Economy and Enterprises”, took place in Lucca, Italy on 29 November 2013. The event, which was supported by Cassa di Risparmio di Lucca Foundation, brought together experts from a range of organizations in both the private and public sectors to discuss the risks for businesses in regard to cybercrime, while also discussing legal options and the implementation of good practices.

The topic for the roundtable was selected after careful consideration of the practical and financial challenges that have arisen for governments and private institutions as a result of the financial crisis. On one hand, tight austerity measures and rising unemployment rates have encouraged a new wave of precarious cyber-criminals that view the cyber dark market as a relatively accessible and low-risk channel of ‘earning’ income. On the other hand, austerity measures led to funding cuts for law enforcement agencies and tighter budgets for private security companies, who therefore struggle to keep up with technological innovations and the increasing number of threat actors. In the wake of this power shift, enhanced international cooperation and increased public private partnerships ought to take a central role in the creation of sustainable resilience strategies.

The harmonized platform established during the roundtable enabled the exchange of key experts’ experiences and policies. Furthermore, the meeting represented an opportunity to deepen understanding of the dimension of cybercrime, identifying gaps to be addressed and good practices, and facilitating international law enforcement cooperation.